Virgin Money Regular Saver Thread

schiff

As an example Chorley BS recently sent me a letter providing everything that I needed to post off the closure and destination of the proceeds request that I would have wanted. Yes, they offered me alternatives to transfer to one of their accounts but possibly from experience they know people usually withdraw to outside accounts. 

SuperHans1

pafpcg said:

PS:  Requesting the same maturity instructions for all the outstanding issues of the regular savers - wouldn't you have to send all the passbooks with that request?

They have confirmed that they have accepted my instructions - will see what happens on 1st July.

pafpcg

wozza2k said:

pafpcg said:

wozza2k said:

schiff said:

"No more than 14 days before maturity we will send you a maturity pack through the post. This will detail all of your reinvestment options and the products available to you in relation to your account maturity, as well as all of your withdrawal options.

Once you have decided what you would like to do you just have to complete the form, pop it in the pre-paid envelope provided and send that back to us, we then do the rest."

I've made it into a formal complaint. In the meantime would someone provide the link to printing off the withdrawal form to an outside account please. I had to do it for Issue 16 but can't find the how to now. TIA

I just called up quoting this and they're saying these terms are for a bond/ISA and for regular saver the terms are different (going to dig them out later).  Such a pain to have to post a letter as I need to get some stamps and envelopes now!

Didn't you keep the Reply-Paid envelope that came with the account-opened confirmation paperwork twelve months ago?  You can use that envelope and write in: "Savings Operations".  It worked for me!

PS:  Requesting the same maturity instructions for all the outstanding issues of the regular savers - wouldn't you have to send all the passbooks with that request?

I opened it in branch and didn't get those envelopes? 

It's my understanding that we can treat the Business Reply account as a Freepost address, so all you'll need is an envelope. 

Address it to:

FREEPOST   RTHC-XEYA-BCCS
Savings Operations
Virgin Money
Jubilee House
Gosforth
Newcastle upon Tyne
NE3  4PL

SFindlay

Even more bad news, online issue 17 released today but only paying 1%!! 

badger09

SFindlay said:

Even more bad news, online issue 17 released today but only paying 1%!! 

Thanks for that.

That's an offer I can refuse.

1882

I've opened an issue 17 and put in a nominal tenner, just in case in a few months time 1% looks worthwhile and I can start using it. I was hoping for at least 1.25% though.

schiff

That was my first reaction but it has some things going for it. The interest rate is fixed - in 2021 that could be amongst the best for savings. You don't need to pay in the full £250 every month and you can make penalty free withdrawals. I think I may start it off, deposit the first £250 then sit back and see how things go with interest rates over the next few months.

veggieblob

I've received my notification about my in store regular saver 17 maturing and they say that they will put the balance in a reward saver at 0.75%.  Obviously this is not the best rate of interest but has anyone gone down this route before?  If so, is the new account an online one where I can transfer monies out as I want.  As I want to split the balance between a couple of accounts it would be easier for me to wait for the new account and then do the transfers myself online instead of all the postal guff.  Thanks in advance

1882

P.S. There's no option to make the initial deposit by debit card anymore, possibly due to the name checks used on new FasterPayments?

typistretired

May as well put in BOS or Lloyd’s Current Accounts than be bothered with the new Virgin Regular Saver